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Dollar hits a historic high at Rs 168.95 in the interbank market

The dollar hits a historic high on Tuesday at Rs 168.95 in the interbank market.

The dollar price has increased by Rs 16.67 against the rupee during four months.

In the open market, the dollar price increased by 70 paisa. It reached Rs 169.70.

At 11:41 am local time, the dollar was being traded at Rs168.9 compared to the previous day’s close of Rs168.09.

The highest value of the dollar against the Pakistani rupee was last recorded at Rs168.43 on August 26 last year.

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While on September 10, 2021, the dollar had hit a 13-month high when it reached close to the record high and was traded at Rs168.02.

As being reported, the dollar climbed to a two-week peak against a basket of currencies on Monday, bolstered by expectations the U.S. Federal Reserve could reduce its asset purchases by the end of the year despite a surge in COVID-19 cases.

The greenback, however, came off its highs in afternoon trading.

The dollar index earlier rose to 92.887, its highest since Aug. 27. It was last up slightly at 92.664.

Saman Siddiqui

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